The Colorado Landlord Legislative Coalition is joining the Apartment Association of Metro Denver in opposing HB 21-1117. This bill authorizes local governments to mandate rent-restricted units on newly constructed or redeveloped housing. There are no limitations on local government requirements, leaving the local government free to impose rent control on all new construction. This bill will allow local governments to dodge any responsibility for funding affordable housing. Unfunded affordable housing mandates will stifle the development of new housing and transfer the full cost of subsidized rent to the other residents in the community.
The CLLC does not support rent control in any form.
Rent control only helps the few who receive controlled rental units. The remaining population is negatively affected because rent control creates scarcity. The goals of rent control will be undermined by the needs of the builder and the investor to be able to afford to provide housing. Builders will choose not to build housing units and investors will invest elsewhere leaving less housing available. It will become more difficult for people that do not already have rent-controlled housing to get housing. There are some winners with rent control, but the losses are more widespread and longer-term. Colorado needs to incentivize builders. We need to make it easy to build in Colorado to increase the amount of available housing. HB21-1117 is the opposite of what is needed in Colorado today.
Please click below to compose your email to members of the House Transportation and Local Affairs Committee regarding HB21-1117.